NOTE 6 RELATED PARTY
REVOLVING NOTE PAYABLE AND ACCRUED INTEREST
On February 14, 2011, DigiPath,
Inc., a Nevada corporation (Company), entered into a Revolving Promissory Note (the Revolving Note)
with NYX Capital Advisors, Inc. (NYX) an entity owned by the Companys President and Chief Financial Officer.
Under the terms of the Revolving Note, NYX agreed to advance to the Company, from time to time and at the request of the Company,
amounts up to an aggregate of $500,000 until March 31, 2013. All advances shall be paid on or before March 31, 2013
and interest shall accrue from the date of any advances on any principal amount withdrawn, and on accrued and unpaid interest thereon,
at the rate of eight percent (8%) per annum, compounded annually. The Companys obligations under the Revolving
Note will accelerate upon a bankruptcy event of the Company, any default by the Company of its payment obligations under the Revolving
Note or the breach by the Company of any provision of any material agreement between the Company and the noteholder. As
of September 30, 2012, the outstanding principal on the Revolving Note was $300,000. As of September 30, 2012, the accrued interest
on the Revolving Notes was $26,784.